lululemon athletica (NASDAQ: LULU) reported Q3 EPS of $0.96, $0.03 better than the analyst estimate of $0.93. Revenue for the quarter came in at $916.1 million versus the consensus estimate of $897.31 million.

• Comparable sales increase 16%, or 17% on a constant dollar basis

GUIDANCE:

lululemon athletica sees FY2019 EPS of $2.10-$2.13, versus the consensus of $2.13. lululemon athletica sees FY2019 revenue of $1.315-1.33 billion, versus the consensus of $1 billion.

• For the fourth quarter of fiscal 2019, we expect net revenue to be in the range of $1.315 billion to $1.330 billion based on a total comparable sales increase in the low double digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $2.10 to $2.13 for the quarter. This guidance assumes 131 million diluted weighted-average shares outstanding and a 28.5% tax rate. The guidance does not reflect potential future repurchases of the Company's shares.
• For the full fiscal 2019, we now expect net revenue to be in the range of $3.895 billion to $3.910 billion based on a total comparable sales increase in the mid teens on a constant dollar basis. Diluted earnings per share are expected to be in the range of $4.75 to $4.78 for the full year, based on a 28% effective tax rate. The guidance assumes 131 million diluted weighted-average shares outstanding. The guidance does not reflect potential future repurchases of the Company's shares.
• The guidance and outlook forward-looking statements made in this press release are based on management's expectations as of the date of this press release and the Company undertakes no duty to update or to continue to provide information with respect to any forward-looking statements or risk factors, whether as a result of new information or future events or circumstances or otherwise. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of risks and uncertainties, including those stated below.

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